LPL Financial LLC Acquires 325,753 Shares of Trinity Capital Inc. (NASDAQ:TRIN)

Key Points

• LPL Financial LLC increased its stake in Trinity Capital Inc. by 689.7%, now owning 372,983 shares valued at approximately $5.65 million.
• Trinity Capital reported a quarterly EPS of $0.53, exceeding analyst estimates of $0.52, while also achieving a net margin of 51.88%.
• The company declared a quarterly dividend of $0.51 per share, resulting in an annualized yield of 12.9% and a payout ratio of 91.48%.

LPL Financial LLC grew its holdings in Trinity Capital Inc. (NASDAQ:TRIN - Free Report) by 689.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 372,983 shares of the company's stock after purchasing an additional 325,753 shares during the period. LPL Financial LLC owned approximately 0.59% of Trinity Capital worth $5,654,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of TRIN. Cetera Investment Advisers grew its stake in Trinity Capital by 24.4% in the 1st quarter. Cetera Investment Advisers now owns 74,059 shares of the company's stock worth $1,123,000 after buying an additional 14,538 shares in the last quarter. Round Rock Advisors LLC grew its stake in Trinity Capital by 178.2% in the 1st quarter. Round Rock Advisors LLC now owns 532,931 shares of the company's stock worth $8,079,000 after buying an additional 341,343 shares in the last quarter. M&T Bank Corp purchased a new position in Trinity Capital in the 1st quarter worth approximately $182,000. Envestnet Asset Management Inc. grew its stake in Trinity Capital by 9.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 54,278 shares of the company's stock worth $823,000 after buying an additional 4,656 shares in the last quarter. Finally, D.A. Davidson & CO. purchased a new position in Trinity Capital in the 1st quarter worth approximately $160,000. Hedge funds and other institutional investors own 24.62% of the company's stock.

Insider Activity

In other news, CEO Kyle Steven Brown acquired 3,200 shares of the business's stock in a transaction that occurred on Friday, August 8th. The shares were bought at an average cost of $15.78 per share, with a total value of $50,496.00. Following the transaction, the chief executive officer owned 1,006,300 shares of the company's stock, valued at $15,879,414. This trade represents a 0.32% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard P. Hamada sold 3,335 shares of the firm's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $14.90, for a total transaction of $49,691.50. Following the sale, the director directly owned 93,735 shares in the company, valued at approximately $1,396,651.50. The trade was a 3.44% decrease in their position. The disclosure for this sale can be found here. Insiders have purchased a total of 5,900 shares of company stock worth $89,546 over the last three months. 5.31% of the stock is currently owned by insiders.

Trinity Capital Stock Performance

NASDAQ:TRIN traded down $0.02 during midday trading on Thursday, reaching $16.10. 612,312 shares of the stock traded hands, compared to its average volume of 688,029. The company has a fifty day moving average of $14.73 and a 200 day moving average of $14.98. Trinity Capital Inc. has a 12 month low of $12.50 and a 12 month high of $16.82. The stock has a market capitalization of $1.13 billion, a P/E ratio of 7.22 and a beta of 0.54.

Trinity Capital (NASDAQ:TRIN - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.53 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.01. Trinity Capital had a net margin of 51.88% and a return on equity of 15.72%. The company had revenue of $69.48 million during the quarter, compared to analyst estimates of $68.84 million. On average, analysts predict that Trinity Capital Inc. will post 2.06 EPS for the current fiscal year.

Trinity Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 12.7%. The ex-dividend date of this dividend was Monday, June 30th. Trinity Capital's dividend payout ratio is 91.48%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TRIN shares. UBS Group boosted their price target on shares of Trinity Capital from $17.00 to $17.50 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. B. Riley upped their price objective on shares of Trinity Capital from $16.00 to $17.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Keefe, Bruyette & Woods cut their price objective on shares of Trinity Capital from $16.00 to $15.00 and set a "market perform" rating for the company in a research note on Thursday, May 8th. Finally, Wells Fargo & Company reaffirmed an "underweight" rating and issued a $13.50 price objective (up previously from $13.00) on shares of Trinity Capital in a research note on Tuesday.

Trinity Capital Profile

Trinity Capital Inc is a business development company. It is a venture capital firm specializing in venture debt to growth stage companies looking for loans and/or equipment financing. Trinity Capital Inc was founded in 2019 is based in Phoenix, Arizona with additional offices in the United States.